Putting all political posturing aside, it’s foolish to downplay the importance of proper tire pressure. Simply put, a properly inflated set of tires allow a vehicle to operate as it was designed. When one or more tires are under-inflated, performance is negatively effected; the vehicle’s ride and handling will suffer, along with its gas mileage.
The term “where the rubber meets the road” directly applies to this issue. A properly inflated tire provides the optimum contact patch (the section of rubber that touches the road surface). An under-inflated tire, on the other hand, has a larger contact patch with increased rolling resistance. More friction where the rubber meets the road means your engine has to work harder, thus lowering fuel efficiency.
Straight line friction’s just part of the equation. Poor handling is an even larger culprit.